Banker duties and responsibilities
A Banker’s main job is to give financial advice to clients, especially on matters related to savings, investments, loans, and securities. Their knowledge and advice help customers solve their financial problems while also increasing the organization’s profit. Some specific duties and responsibilities of a banker include:
- Knowledge of the products and services offered by the bank, including mortgages, loans, chequing and savings accounts, auto loans, money market accounts, Guaranteed Investment Certificates (GICs), Registered Education Savings Plan (RESP), and bonds
- Collection and gathering of information from both new and existing clients
- Identifying and talking to prospective customers about products and services that best suit their needs
- Opening bank accounts for new and existing customers, manage transactions, and close accounts when necessary
- Building relationships with current and prospective clients as a foundation to promote their institution’s products
- Resolving clients’ issues and perform administrative tasks such as documenting their information, and other related duties
Banker skills and qualifications
Ideal Banker candidates will possess excellent communication skills with a robust knowledge of banking products and processes. Some main skills and qualifications include:
- Thorough understanding of banking and financial solutions
- Good interpersonal and excellent communication skills
- Excellent numerical skills and working knowledge of banking software
- Working knowledge of regulations and best practices regarding personal, commercial, or business banking
- Excellent at spotting opportunities for a sales referral
- Customer-focused approach to solving problems
- Meticulous attention to detail
Banker experience requirements
Entry-level Bankers are expected to have at least two years of relevant working experience. Those with university or college degrees with some practical experience can also succeed in this role. Likewise, a candidate with sales and customer service experience will likely excel . For senior positions, a candidate gains an advantage in having at least five years of relevant experience. On top of this, the candidate should possess strong problem-solving and customer service skills.
Banker education and training requirements
Graduates in financial-related fields are generally ideal for this position, but at minimum, a prospective candidate should have a high school diploma. Candidates with qualifications such as a degree in a field relevant to finance are generally prepared for a banking career. However, candidates will still need training to learn about the bank’s products and services.
For a commercial banking role, you should only consider candidates with experience in a commercial banking environment. Those with an MBA or Chartered Financial Analyst (CFA) qualification may excel in this role.
Banker salary expectations
According to Indeed Salaries, the average salary for a Banker is about $44,376 per year. However, this salary estimate may vary depending on the candidate and their previous work experience, and the company’s location and size. Bankers may receive additional benefits depending on factors such as location and company.
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